1. (3 points) As of 12-31-15, Zena Company has four different inventory items on hand. Data on the four items follows:

Item	Quantity on hand	Unit cost	Expected selling price	Estimated disposal costs
C3Z22P3	550	$30.75	$40	$3
PQ27845	75	$ 9.50	$10	$2
ZT15577	253	$17.00	$29	$0
SF98888	87	$43.00	$50	$9

Using the lower-of-cost-or-net realizable value approach applied on an individual-item basis, determine if Zena needs to make an entry to write her inventory down. If so, prepare the entry Zena should make